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The performance of the GDP in the first quarter of 2023 was driven mainly by the Services sector, which recorded a growth of 4.35% and contributed 57.29% to the aggregate GDP. The agriculture sector grew by -0.90%, lower than the growth of 3.16% recorded in the first quarter of 2022. Although the growth of the industry sector improved to 0.31% ...
June 2023 8.3% Previous Oil Production 1.3mbpd 1.2mbpd Period M -o M% July 27 2023 3.8% Previous FX Reserves $35.6bn $34.3bn Period M -o M% July 27 2023 8.9% Previous Market Capitalisation ₦35.6tn ₦32.7tn July 2023 1.8% Previous Inflation 22.8% 22.4 % NB: The cut off date is as of July 27, 2023 ₦ $ Source: NBS, CBN, NGX, PwC Analysis ...
•The marginal growth in GDP by 2.5% in Q2 2023 from 2.3% in Q1 2023 was caused by the lingering effect of the cash crunch. PwC projects 2.8% growth rate for Nigeria in 2023 and 3% in 2024. This marginal growth projection may be due to the emerging effects of the implementation domestic
Aug 15, 2024 · QRP-1-2023. CBN Economic Report for First Quarter 2023 Published 3/31/2023. 1395714. QRP-4-2022. CBN Economic Report for Fourth Quarter 2022 Published 12/31/2022. 2509876. QRP-3-2021. Third Quarter 2021 CBN Economic Report Published 12/1/2022. 988608.
and is also considered in this report.In Q1 of 2023, the Gross Domestic Product grew in real terms by 2.31% year-on. year and recorded 2.51% in Q2 of 2023. This shows a sustaine. positive trajectory since Q4 of 2020. However, this was a reduction of 0.80% in growth of Q1 of 2023 and a fall of 1.03% in Q2 of 2023 compar.
The growth of the global economy in 2023 is nothing short of a tale of resilience as elevated inflation unprecedented in decades and several other headwinds dampened global growth, pushing the world economy closer to its pre-pandemic growth level. Headwinds from elevated price levels which caused significant drag in consumer demand, sustained ...
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Jun 8, 2023 · KPMG Analysis: GDP Growth Rate by 2026. This week we highlight the reported decision of the World Bank to retain its 2023 GDP growth forecast for Nigeria at 2.80% from 3.3% recorded in 2022. The World Bank’s 2023 forecast is in line with KPMG’s revised forecast of 2.85% (from 3.0% earlier stated), following the release of Nigeria’s Q1 ...
